Andhra Pradesh-based stocks like Heritage Foods and Amara Raja Energy, which gained investor interest post-Budget, are now underperforming. Despite initial market excitement and promises from Andhra CM Chandra Babu Naidu and Finance Minister Nirmala Sitharaman, most of these stocks are trading negatively due to worsening market sentiments.
Tech view: Bullish reversal on Nifty hinges on sustained breakout. How to trade tomorrow
The Nifty index formed a bearish engulfing pattern, signaling potential bearish momentum below the 23,000 support level. Resistance lies at 23,300–23,500, requiring a breakout to